In a country’s finance, the period covered by a budget is usually a year, which is usually known as a financial or fiscal year. The government budget, as forecasted by a government of its expenditures and revenues for a specific period of time, has come to be used to achieve specific goals of the nation’s economic policy.
The very important thing about government budget is to prevent business fluctuations of inflation or deflation to achieve the goal of economic stability. In Malaysia, the government budget is set to meet and fulfill various objectives:
- Reallocation of Resources
- Tax concessions or subsidies
- Reducing inequalities in income and wealth
- Economic Stability